Cal-Maine Foods (NASDAQ:CALM) Trading Up 5.3% – Still a Buy?

Cal-Maine Foods, Inc. (NASDAQ:CALM) shot up 5.3% on Monday . The company traded as high as $87.51 and last traded at $87.46. 63,268 shares traded hands during trading, a decline of 93% from the average session volume of 959,489 shares. The stock had previously closed at $83.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CALM shares. Stephens reiterated an “equal weight” rating and issued a $97.00 price objective on shares of Cal-Maine Foods in a research note on Thursday, March 6th. StockNews.com upgraded Cal-Maine Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th.

Cal-Maine Foods Stock Down 4.1 %

The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 6.85 and a beta of -0.12. The stock’s 50-day moving average price is $99.87 and its 200-day moving average price is $93.38.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Tuesday, January 7th. The basic materials company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.42. The firm had revenue of $954.70 million for the quarter, compared to the consensus estimate of $751.50 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts anticipate that Cal-Maine Foods, Inc. will post 15.59 EPS for the current year.

Insider Activity at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of Cal-Maine Foods stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $109.97, for a total transaction of $88,965.73. Following the completion of the sale, the director now owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cal-Maine Foods

Several institutional investors have recently modified their holdings of CALM. Jefferies Financial Group Inc. increased its stake in Cal-Maine Foods by 255.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 19,884 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 14,284 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Cal-Maine Foods during the 4th quarter worth $1,733,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Cal-Maine Foods by 27.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,686 shares of the basic materials company’s stock worth $7,995,000 after acquiring an additional 16,650 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Cal-Maine Foods in the fourth quarter valued at about $3,180,000. Finally, State of Wyoming increased its holdings in shares of Cal-Maine Foods by 45.3% in the fourth quarter. State of Wyoming now owns 4,869 shares of the basic materials company’s stock worth $501,000 after acquiring an additional 1,519 shares in the last quarter. 84.67% of the stock is currently owned by institutional investors and hedge funds.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.